Monetary policy and core inflation / Michele Lenza.
Tipo de material: TextoSeries Discussion paper (Deutsche Bundesbank). Series 1: economic studies ; no. 35/2007Detalles de publicación: Frankfurt am Main : Deutsche Bundesbank, 2007Descripción: 44 pISBN:- 9783865583710
- 21 332.41
Tipo de ítem | Biblioteca actual | Signatura topográfica | Estado | Fecha de vencimiento | Código de barras | |
---|---|---|---|---|---|---|
Documento | Biblioteca Manuel Belgrano | F 332.41 L 21042 (Navegar estantería(Abre debajo)) | Disponible | 21042 F |
Bibliografía: p. 21-22.
This paper studies optimal monetary policy responses in an economy featur-ing sectorial heterogeneity in the frequency of price adjustments. It shows that acentral bank facing heterogeneous nominal rigidities is more likely to behave less
aggressively than in a fully sticky economy. Hence, the supposedly excessive cau-tion in the conduct of monetary policy shown by central banks could be partlyexplained by the existence of a relevant sectorial dispersion in the frequency of
price adjustments.
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